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Lack of funding remains a big concern for coal juniors

Published: 24 May 24

Amid challenging market conditions, junior coal miners in Africa face challenges in securing funding, with about 70% experiencing constraints in exploration and production owing to insufficient financing, said coal procurement and mining development company Alpha Resources and Investments CEO Selim Kaymak, citing statistics from a Mining Technology report. During a presentation at the Junior Mining Indaba on May 22, Kaymak discussed the implications of a challenging coal mining market for junior miners. In his presentation, he cited a Minerals Council South Africa statistic that junior coal miners are significant players in South African coal production, contributing up to 30% of South Africa’s overall output.

Social elements of ESG in mining more complex, but an established part of mining's legacy

Published: 24 May 24

While there are increasingly complex regulatory requirements governing the social obligations of mines, regulations are only catching up to what some mining companies are doing to benefit mine communities and stakeholders. Mining companies understand the need to obtain a so-called 'social licence to operate' from communities in an area, and many of them also conform to international regulations, such as stock exchanges' environmental, social and governance (ESG) reporting rules, as well as international norms and expectations in terms of their social obligations.

COMRO book editor Brian Protheroe (right) and Mining Weekly's Martin Creamer (left).

Massive water power possibilities in underground mining, says COMRO book editor

Published: 24 May 24

When hydropower was being developed for South Africa’s gold-mining industry, the industry was going through a tough time and the research organisation of the day, the Chamber of Mines Research Organisation or COMRO, ceased to function in the form that it had for 30-odd years. Had COMRO continued with its intense hydraulics research through what was such an uncertain time that it merged the research organisation with the CSIR, water power could conceivably have been playing a much bigger role than it is now.

Pan African announces capital reduction to recover overpaid distributions

Published: 24 May 24

JSE- and Aim-listed Pan African Resources will host a general meeting in London on June 10 to discuss a proposed capital reduction programme. Additionally, the company expects a court hearing to confirm the legality of its capital reduction plans by July 2, before the capital reduction becomes effective on July 3.

Zhaojin moves ahead with compulsory acquisition of remaining Tietto shares

Published: 24 May 24

ASX-listed Tietto Minerals has reported that the off-market takeover offer made by Zhaojin Capital for all of the issued shares in Tietto that Zhaojin does not already own, closed at 19:00, Sydney time, on May 14. As at Tuesday, May 14, Zhaojin had voting power of 90.72% in Tietto.

MC Mining acknowledges Goldway’s plans to buy all outstanding shares

Published: 24 May 24

ASX-, JSE- and Aim-listed MC Mining has acknowledged the announcement made on May 22 by investment firm Goldway Capital Investment regarding an offer to compulsorily buy out certain ordinary shares in MC Mining following Goldway's recent off-market takeover offer. The terms of the buy-out offer mirror those of the initial takeover offer. The consideration for the buy-out offer stands at A$0.16 a share.

Municipalities, mines share the risk of tailings failures – SRK

Published: 24 May 24

Municipalities share the risk of tailings dam failure with mines, consulting firm SRK Consulting has pointed out, noting that the latest global standards reiterate how municipalities must play an important role in the emergency response and recovery efforts after such incidents. Local government in South Africa has a legal responsibility for any disaster in its jurisdiction, imposed by the country’s Disaster Management Act and the Disaster Management Framework.

Aris Mining plans smaller-scale Soto Norte development, ups stake to 51%

Published: 24 May 24

Toronto- and New York-listed Aris Mining is set to increase its shareholding in the Soto Norte project, in Colombia, to a controlling interest of 51%. The company will acquire an addition31% joint venture (JV) interest in the copper/gold project in a share transaction. Aris will issue 15.75-million shares to Abu Dhabi-based investment group Mubadala, representing about 9.9% ownership, with a further six-million shares to be issued on receipt of an environmental licence. Aris also unveiled a new, smaller-scale development plan for Soto Norte, which is said to be one of the biggest undeveloped underground gold projects in South America.

Emmerson pleased with innovative processing method to be used at Morocco project

Published: 24 May 24

Aim-listed potash development company Emmerson’s main priority at this time is obtaining environmental approval for the Khemisset project, in Morocco. The company advises that a scoping study published in February identifies a novel processing route for the project, called the Khemisset multimineral process, which reduces the site’s environmental impact.

Lundin links $2.55bn credit and loan facilities to ESG performance

Published: 24 May 24

Canadian base metals company Lundin Mining has amended terms of two credit facilities – a $1.75-billion revolving credit facility and a $800-million term loan – to implement a sustainability-linked loan structure. The sustainability-linked loan structure incentivises reduced greenhouse gas emissions and thriving communities, which focuses on community relations as a core element of a mining company’s social licence to operate.